09.00 Europe/London, August 3, 2011 By Julian Clover
Red Bee Media is acquiring content discovery firm TV Genius in what the company is describing as a “strategic acquisition”.
TV Genius, which specialises in cloud-based content discovery across the internet, TV and connected devices, will sit alongside Red Bee’s meta data services.
“A critical requirement for monetising content across platforms and screens is to enable consumers to easily discover content in what is becoming an increasingly cluttered and fragmented marketplace”, said Bill Patrizio, CEO, Red Bee Media. “Accurate search and personally relevant recommendation is a key differentiator in addressing this challenge and this acquisition allows us to significantly enhance our current offering by investing in new technologies at the core of the future TV experience.”
Tom Weiss, CEO, TV Genius, said the company would now have the ability to grow its Content Discovery Platform while maintaining its relevance. “The personalised EPG, social TV, and companion applications are changing the way we watch and interact with TV in significant ways.”
Financial terms have not been disclosed, but Red Bee Media is planning to invest further in TV Genius, intending that it should become the core driver behind its RedPlayer.
Founded in 2005, TV Genius has worked with ITV, Sky, Freeview, Astra, Bauer Media, IPC Media, STV and AOL, its customer base increasingly converging the internet with TV.